The recent wave of layoffs has left many professionals grappling with uncertainty. As companies strive to weather the storm and position themselves for future success, the strategic shift towards outsourcing is emerging as a key solution in these turbulent times.
Over 240,000 jobs in the tech sector have been lost in 2023; this number is already 50% greater than it was the previous year and continues to rise. Cuts were also announced by startups in a variety of industries throughout the first half of the year. Furthermore, even the pace of tech layoffs reduced in the summer and fall, it seems like they are ramping up again.
However, the imperative to complete ongoing projects remains, and companies are confronted with the dilemma of maintaining productivity without overburdening their existing workforce. This scenario underscores the importance of outsourcing as a strategic solution, addressing the need to complete projects efficiently while safeguarding the well-being of current workforce.
The Need for Outsourcing: Alleviating Workload and Promoting Sustainability
When a company undergoes layoffs, it does not necessarily signal a slowdown in projects or a reduction in business demands. Ongoing commitments and deadlines persist, and ensuring the continuity of projects becomes paramount. Outsourcing provides a viable means to retain the necessary workforce to meet project requirements, facilitating the seamless completion of tasks without disruptions
An increased workload on existing employees, resulting from layoffs, can lead to burnout. Overburdened staff are more likely to experience decreased productivity, increased stress, and diminished job satisfaction. Outsourcing offers a strategic solution to distribute the workload, preventing burnout
Outsourcing isn’t just about cutting costs; it’s about tapping into a diverse and expansive talent pool. The world is full of highly skilled professionals. Organizations can bring that global talent right into their projects. Having a mix of different viewpoints sparks creativity and innovation, giving an edge in the always-changing tech world.
In the wake of layoffs, redistributing tasks to an offshore team ensures that critical projects remain on schedule, allowing the remaining onshore employees to focus on strategic initiatives and higher-value tasks. This flexibility enhances the overall efficiency of the organization.
Relying solely on a reduced onshore workforce poses a risk to business continuity. Unexpected events, such as illness, resignations, or other disruptions, can have a significant impact on project timelines. Outsourcing mitigates these risks by creating redundancy in the workforce, ensuring that the company remains resilient in the face of these challenges
In January 2023, the period marked by both layoffs, Innovature stepped in to provide critical support for a leading US financial service firm. Faced with a reduced workforce, and a forced closedown due to sudden snowstorm, the company was struggling to meet crucial project deadlines. Innovature swiftly deployed a team of dedicated professionals, working tirelessly day in and out.
This added manpower not only alleviated the strain on the remaining staff but also ensured that project timelines were met despite market challenges.
With us, you’re tapping into the expertise of over 300 tech-savvy professionals. We understand the importance of security and quality in IT services. Innovature is a ISO 27001:2013 certified, guaranteeing that your sensitive information is handled with the utmost care and that the delivery meets the highest standards. Your peace of mind is our priority.
Also, in turbulent times, flexibility isn’t just a perk; it’s a necessity. We can work on any delivery models that suits your business goals. Opting for a dedicated team from us also comes with a unique offer– put our resources to the test with a pilot task at zero cost. Evaluate their capabilities, and only proceed if we meet and exceed your expectations. We believe in earning your trust through real, measurable results.
If you’d like to know more about how we could support your business, drop a mail to sales@innovature.ai or give us a call at +1 734 215 5048
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